Buying a house? Read this first: These 40 cities could be on the brink of a housing crash.
If you're looking for a new home in an urban area, you might be attracted to some more up-and-coming areas.That is according to a new study from GOBankingRates, which evaluated cities based on multiple criteria: percentage of homes with mortgages in negative equity, foreclosure rates, delinquency rates on mortgage payments, homeowner vacancy rates and rental vacancy rates. The site then ranked 40 cities according to these risks.
Other Northeast cities to make the list include Baltimore; Bridgeport, Conn.; Hartford, Conn.; Philadelphia; and Syracuse, New York. Tulsa landed on the bottom of the list, but that doesn't necessarily mean it's a safe bet, DePietro said. That's because it still has above-average foreclosure rates, homeowner vacancy rates and rental vacancy rates.Not everyone agrees that there is trouble on the horizon for these areas.
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